HDFC Bank Home Loan Interest Rate

HDFC Ltd. offers house loans starting at 8.10% p.a. for terms up to thirty years, and the loan amount up to Rs. 10 crores. Existing home loan borrowers of other banks and HDFCs can use HDFC's home balance transfer service. Reach Loans are also available from HDFC for micro-enterprises and salaried individuals who may or may not have proper income documentation.

Its Rural Housing Loan scheme is aimed at agriculturists, planters, horticulturists, dairy farmers, and other rural and urban residents, as well as self-employed/salaried candidates who want to build or buy a home in their hometowns or villages.

HDFC Home Loan Interest Rate 2022

HDFC home loan interest rate tables:

Home Loan Floating Interest Rates - For Salaried

Loan Amount

HDFC Home Loan Rate

Rs. 30 lakh

8.15% - 8.65%

Rs. 30.01 lakh to Rs 75 lakh

8.15% - 8.65%

Rs. 75.01 and more

8.50% - 9.00%

For Self-employed

Amounts

HDFC Home Loan Interest

Rs. 30 lakh

8.25% - 8.75%

Rs. 30.01 lakh to Rs 75 lakh

8.50% - 9.00%

Rs. 75.01 lakh and more

8.60% - 9.10%

Types of HDFC Home Loans Scheme

There are varied home loans from HDFC to cater to different purposes-

1) Housing Loans

The loan scheme is for the purchase of a flat, bungalow, or row house in a private developer's approved project. For the acquisition of assets from Development Authorities such as MHADA, DDA, and others.

For the acquisition of property in Co-operative Housing Societies, Apartment Owners' Associations, Development Authorities Settlements, or private residences. For construction on a Development Authority plot or a freehold/leasehold plot.

2) HDFC Reach Home Loan

This housing loan is for the acquisition/construction of a home, purchase of a parcel of land, and purchase of a shop/office to conduct a business for micro-entrepreneurs and salaried individuals with insufficient income documents.

3) Home Balance Transfer Scheme

This is for the existing house loans transferred from other banks/NBFCs to HDFCs at lower interest rates.

4) HDFC Rural Housing Loan Scheme

This is a scheme for agriculturists, dairy farmers, planters, and horticulturists looking to buy a new or existing residential property in rural or metropolitan locations.

For the construction of a residence on a freehold/leasehold site in both urban and rural locations. For home improvement projects such as flooring, tiling, painting, interior and external plastering, and so on, in addition to an existing home.

5) House Renovation Loan Scheme

This is a scheme for home improvement projects such as tiling, flooring, painting, and plastering.

6) HDFC Plot Loans

This loan is for the acquisition of a plot by direct allotment. Purchase of a resale plot. Transferring an existing house loan from another bank/NBFC to HDFC at a cheaper HDFC bank home loan interest rates.

7) Home Extension Loan Scheme

This is a scheme to expand or add space to your existing home.

8) The HDFC Top-Up Loan Scheme

It is an additional loan granted on top of the existing home loan to satisfy the borrower's personal and professional needs.

9) The PMAY

It is for the purchase/construction/improvement/extension of a house for economically weaker sections of society, low-income groups, and middle-income groups, with a maximum interest subsidy of Rs 2.67 lakh.

Advantages of the HDFC Bank Home Loan

  • With the Army Group Insurance Fund, HDFC Bank offers special programs for Indian Army personnel (AGIF).
  • Aside from HDFC conventional house loans in all ticket sizes, there are other initiatives for the inexpensive home category.
  • The nominal processing charge is Rs 3000.
  • Rapid approval and processing
  • Provisional approval is granted immediately for a period of six months.
  • Customers are assisted at their door.
  • Minimum documentation and clear terms and conditions.
  • Post-disbursement services that are hassle-free. Register your account for internet and mobile banking using your HDFC Bank home loan login id and password.

Processing Fee of the HDFC Home Loans

  • Salary/Self-employed Professionals: Up to 0.50% of the loan amount or Rs 3,000, whichever is more.
  • Non-professionals who are self-employed: up to 1.50% of the loan amount or Rs 4,500, whichever is greater.

Regarding the HDFC Reach Loan

For salaried/self-employed individuals: Up to 2% of the loan amount plus taxes

(A discounted processing cost of Rs 2,000 is applicable till August 31, 2022.)

How to Apply for a Home Loan on HDFC Bank?

You can use one of the methods below to apply for a home loan from HDFC Bank-

  • You can go to the official portal of HDFC Bank, and fill out the form with the prompt instructions on the screen.
  • You could also go offline to apply for the loan, and all you would have to do is visit the bank with the below-mentioned documents.

What are the Documents Required to Apply for the Home Loan from the HDFC Bank?

Following are the documents required to apply for the home loan from the HDFC Bank-

If you are Salaried 

  • Salary slips
  • ITR and Form 16
  • Bank statement

If Self-employed

  • ITR 
  • Current account statement
  • Balance sheet and P/L statement

Who Can Apply for the HDFC Home Loan?

Age Range: 21-65 years

Professionals (Doctors, Lawyers, Engineers, CA, Architect, Consultant, CS) and Self-employed Non-Professionals (Commission agent, contractor, trader)

Nationality: Indian Resident

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